Decision details

RESOLVED that Cabinet: -

(a)            approved the budget planning process as referenced in paragraph 26;

(b)           approved the timeline for key financial reports during 2021/22 as set out in appendix A;

(c)            approved the financial strategy as referenced in paragraphs 18 to 23 and as set out in appendix B;

(d)           approved the allocation of a further £240k to support the Councils response to the climate change and ecological emergency as referenced in paragraph 25; and

(e)            noted the updated MTFP position and the key financial planning assumptions as set out in appendix C.

Voting: Unanimous

Portfolio Holder: Leader of the Council

Reason

To comply with accounting codes of practice and best practice which require councils to have a rolling multi-year medium term financial plan.

To provide Cabinet with the latest high-level overview of the medium-term financial plan.

To present a proposed financial strategy to support the delivery of a balanced budget for 2021/22.